FedEx Co. (NYSE:FDX) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lowered its holdings in FedEx Co. (NYSE:FDX) by 6.5% during the third quarter, HoldingsChannel.com reports. The fund owned 1,750 shares of the shipping service provider’s stock after selling 121 shares during the period. Cornerstone Wealth Management LLC’s holdings in FedEx were worth $479,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Central Valley Advisors LLC acquired a new position in shares of FedEx during the second quarter valued at approximately $39,000. Abound Wealth Management lifted its stake in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the last quarter. Sachetta LLC lifted its position in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares during the last quarter. OFI Invest Asset Management increased its holdings in shares of FedEx by 91.8% during the 1st quarter. OFI Invest Asset Management now owns 186 shares of the shipping service provider’s stock worth $50,000 after purchasing an additional 89 shares during the period. Finally, ORG Partners LLC bought a new position in shares of FedEx during the 2nd quarter worth about $50,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

FDX stock opened at $274.45 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The business’s fifty day simple moving average is $280.10 and its two-hundred day simple moving average is $275.00. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The firm has a market cap of $67.54 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.06 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the previous year, the business earned $4.55 EPS. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts predict that FedEx Co. will post 19.6 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is 32.04%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FDX shares. Argus upped their target price on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Evercore ISI decreased their target price on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Stifel Nicolaus decreased their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, Raymond James decreased their price target on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average price target of $314.17.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.